Oreana, Macon County, Illinois Property Taxes

Name: Property Tax Bills Across Oreana, Macon County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Oreana, IL effective property tax rate: 2.22%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Oreana, IL home value: $117,983. Median annual Oreana, IL tax bill: $2,564, $164 higher than the national median property tax bill of $2,400.

How are property taxes in Macon calculated?

Property taxes in Oreana, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Oreana’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oreana, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Oreana, Macon County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.22%

Estimate Property Tax Bill

$2,619

$2,431

Ownwell’s Oreana Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oreana with just two data points. By entering your property's estimated assessed value, our calculator applies Oreana’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Macon County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oreana, Macon County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Oreana’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Oreana in Macon County has an effective property tax rate of 2.22%, which is significantly higher than the national median rate of 1.02%. This places Oreana among the higher property tax rates in the state. Understanding these figures is crucial for homeowners looking to manage their property tax liabilities effectively. By evaluating how Oreana's rates compare to other regions, residents can make informed decisions about property ownership and potential savings through property tax appeals and exemptions.

Property Tax Rates Across Oreana, Macon County, Illinois

Source: Ownwell

1.79%

2.60%

3.41%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Oreana Taxx Rate

2.22%

Median Effective Macon County Taxx Rate

2.55%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Oreana, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62554	1.57%	1.94%	2.22%	2.35%	2.56%

Source: Ownwell

Property Tax Assessment Values Across Oreana, Macon County, Illinois

When examining property taxes in Oreana, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Macon County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Macon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Oreana. For example, the median home price in Oreana is $117,983, with tax bills ranging significantly across the county. Zip code 62554 has the highest median home price at $117,983.

Property Tax Assessment Values Across Oreana, Macon County, Illinois

Source: Ownwell

$64,096

$166,841

$269,586

Median Oreana Market Value

$117,983

Median Macon County Market Value

$87,275

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Oreana, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62554	$76,772	$92,418	$117,983	$183,457	$236,474

Source: Ownwell

Property Tax Bills Across Oreana, Macon County, Illinois

In Oreana, located in Macon County, IL, property tax bills are calculated based on the assessed value of a home. This value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. The resulting assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as improvements to the property or changes in the local tax rate can influence the assessed value and, consequently, the tax bill. With a median home price of $117,983, homeowners in Oreana face tax bills that can range significantly, from the 25th percentile at $1,781 to the 90th percentile at $5,525. The median tax bill in Oreana is $2,564, slightly above the national median of $2,400. Homeowners may find these taxes burdensome, but Ownwell can assist by identifying potential savings through appeals and exemptions. Our expertise ensures that homeowners pay only their fair share, potentially lowering their tax burden and providing financial relief.

Property Tax Bills Across Oreana, Macon County, Illinois

Source: Ownwell

$1,474

$3,645

$5,815

Median Oreana Tax Bill

$2,564

Median Macon County Tax Bill

$2,091

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Oreana, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62554	$1,170	$1,781	$2,564	$4,022	$5,525

Source: Ownwell